Growth options, macroeconomic conditions, and the cross section of credit risk

This paper develops a structural equilibrium model with intertemporal macroeconomic risk, incorporating the fact that firms are heterogeneous in their asset composition. Compared with firms that are mainly composed of invested assets, firms with growth options have higher costs of debt because they...

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Bibliographic details
Volume: 107
Main Author: Arnold, Marc
Wagner, Alexander F
Westermann, Ramona
Format: Journal Article
Language: English
Zielgruppe: Academic
Place of publication: LAUSANNE Elsevier B.V 01.02.2013
ELSEVIER SCIENCE SA
published in: Journal of financial economics Vol. 107; no. 2; pp. 350 - 385
ORCID: 0000-0002-9796-8821
Data of publication: February 2013
ISSN: 0304-405X
1879-2774
EISSN: 1879-2774
Discipline: Economics
Business
Subjects:
E44
G33
G32
G12
D92
Online Access: available in Bonn?
Database: Social Sciences Citation Index
Web of Knowledge
Web of Science - Social Sciences Citation Index - 2013
Web of Science
CrossRef
Academic OneFile (A&I only)
Database information Databases - DBIS